Principles of Business Communication

The communication process plays the most important role in business as it will separate your business from the competition and determines its success or failure. Warren always mentions how important is to improve your communication skills in order to succeed in business. The principles are: 1. Clarity: be clear regarding your thoughts and expressions. Say and write what you mean and mean what you say and write.

Make sure you use simple words and be concrete; 2. Completeness: make sure the receiver has no doubts about the message; 3. Conciseness: be concise and make sure you delivery the right length of the message; 4. Consideration: put yourself in the place of the receiver. Use YOU view instead of I, WE view; 5. Courtesy: be friendly, polite, use of good manners;

6. Correctness: use of correct grammar, spelling, punctuation, right level of language, accuracy; 7. Concreteness: be specific, definite, vivid rather than obscure, vague. Evidence Considered one of the richest man in the world (3th in 2011, $50 billion), Warren is undoubtedly one of the most successful business investor in history. He has led his company (Berkshire Hathaway) through investments and acquisitions, to exponential growth. An example is the fact that, a $1000 investment back in 1959 in his company, is today, worth $25 million. Sometimes called “Oracle of Omaha”, others “The wizard of Omaha” or even “Sage of Omaha”, Warren is known not only for his success as an investor, but also as a notable philanthropist.

Warren has donated several billions of dollars to charity and good causes institutions such as: Gates Foundation, Glide Foundation, AIDS research among others. His ability to communicate effectively with the people he leads and, at the same time, being frugal, are some of the reasons why people follow and admire him as a great leader in the world of business.

Communication Success Buffett, when young, took a Dale Carnage class as he was very afraid to speak in front of people. He always believed that “the ability to convey your ideas to others will be an enormous determinant to your success”. He improved his communication skills, contributing expressively to give a great push to his career. His ability to communicate his ideas has given him recognition worldwide as he has influence also in politics, considered one of the most influential people in the world, and, of course, an example of manager and great investor. Style

Warren Buffett has a simple but very likeable and effective way to convey his ideas. Humour and jokes are common tools used by him in the company’s annual shareholder meeting. He is recognized as well as a great story-teller, as his annual letters to shareholders, are considered to be very clever, creative but at the same time, easy-reading. There are quite few reasons why Buffett is so likeable and followed by many people and investors in the world.

Here are some: His conversational tone: it feels like Warren is chatting with you. He is not your professor, this is not a lecture. When he talks to you, he respects you, displays proper manners and says “thank you” and “please”; He is vulnerable: even Buffett had to take some classes when young. He insists that the best investment you can make is in yourself; he points out that, when you improve your talent, nobody can take it from you; “Lightness of face”:

Warren smiles enough; it is not always 100% sure that someone will like you because you smile but, it is the easiest, and more likely way to get someone’s attention; He is an excellent listener: listening is one of the most important communication skills; when you listen to someone, you make that person feels respected, valued, happy and productive;

http://businesscommunicationnew.blogspot.com/2011/03/principles-of-business-communication.html ^ Markels, Alex (July 29, 2007). "How to Make Money the Buffett Way". U.S. News & World Report. ^ Sullivan, Aline (December 20, 1997). "Buffett, the Sage of Omaha, Makes Value Strategy Seem Simple: Secrets of a High Plains Investor". International Herald Tribune. http://www.ehow.com/facts_5314422_principles-business-communication.html http://www.cbsnews.com/8301-505125_162-28242377/underlying-principles-of-business-communications/?tag=bnetdomain http://notesdesk.com/notes/business-communications/the-seven-cs-of-effective-business-communication/